Business news

MINSK, 31 July (BelTA) – Chinese investors show interest in purchasing shares in a number of Belarusian companies, Chairman of Belarus’ State Property Committee Andrei Gayev told the media as he received a Chinese delegation led by Xiao Yaqing, Chairman of the State-owned Assets Supervision and Administration Commission at China’s State Council, at Minsk National Airport on 31 July, BelTA has learned.

Andrei Gayev noted that the framework agreement signed by the state property authorities of Belarus and China in September 2016 provides for transition from credit cooperation to direct investment. “We have great potential. We need to take steps towards each other to ensure that our agreements get implemented for the benefit of the two countries,” the official stressed.

Chinese investors are currently considering a pilot list of Belarusian companies with preliminary terms for acquiring shares in these companies. “We can already talk about preliminary results. For instance, talks are underway over cooperation mechanisms regarding Gomselmash. A draft decree of the head of state has been drawn up to convert Belgosproekt into an open joint stock company. The document envisages that Chinese investors will have shares in the company,” Andrei Gayev said.

As he commented on the visit of the Chinese delegation, the official emphasized that the State-owned Assets Supervision and Administration Commission at China’s State Council manages some 100 major corporations. The delegation comprises many businessmen, including heads of 16 large corporations with an annual turnover of over $1.5 trillion. The visit has been organized in line with the agreements reached by the heads of state to step up the cooperation between Belarusian and Chinese companies.

 “We will discuss various cooperation areas related to the development of relations at the industrial park Great Stone. The agenda includes matters of cooperation in mechanical engineering, metallurgy, electronics, medicine, and environmental security. We also have good opportunities for cooperation in tourism,” Andrei Gayev noted.

He added that the Belarusian companies Promsviaz and Minsk Plant of Heating Equipment may become residents of the China-Belarus industrial park.